Income Taxes (Tables)

12 Months Ended

Jan. 31, 2025

Income Tax Disclosure [Abstract]

Income tax expense (benefit) reconciled to statutory rate

The income tax expense for fiscal years ended January 31, 2025 and 2024 is reconciled to the statutory federal income tax rates of 21% for the tax years ended January 31, is as follows (in thousands):

	2025		2024
Statutory	$	6,011	$	6,140
State taxes (net of federal tax)	1,197		1,346
Change in valuation allowance	(15)		(613)
State rate adjustment	83		164
Change in unrecognized tax benefits	65		34
Stock compensation	(315)		16
Expirations of attributes	21		56
Permanent differences	(278)		69
Return to provision true-up	11		118
Income tax expense	$	6,780	$	7,330

Significant components of expense (benefit)

Significant components of the expense for income taxes attributed to continuing operations are as follows for the years ended January 31, is as follows (in thousands):

	2025		2024
Current
Federal	$	5,142	$	5,567
State	1,408		963
	6,550		6,530
Deferred
Federal	(75)		301
State	320		1,112
	245		1,413
Change in valuation allowance	(15)		(613)
	230		800
Income tax expense	$	6,780	$	7,330

Deferred tax assets and liabilities

Deferred tax assets and liabilities are comprised of the following as of January 31, respectively, as follows (in thousands):

	2025		2024
Deferred tax assets
Accrued vacation and sick leave	$	2,238	$	2,143
Retirement plans	1,725		2,391
Insurance reserves	227		197
Warranty	126		128
Net operating loss carryforwards	439		599
Right of use liability	9,505		1,935
Inventory	1,709		1,878
Other	580		536
	16,549		9,807
Deferred tax liabilities
Tax in excess of book depreciation	(804)		(882)
Right of use assets	(8,979)		(1,663)
Other	(709)		(377)
	(10,492)		(2,922)
Valuation allowance	(236)		(251)
Net long term deferred tax asset	$	5,821	$	6,634

Unrecognized tax benefits

The following table summarizes the activity related to our gross unrecognized tax benefits for the years ended January 31, respectively, as follows (in thousands):

	2025		2024
Beginning balances as of January 31,	$	92	$	62
Increases related to prior year tax positions	15		8
Decreases related to prior year tax positions	—		—
Increases related to current year tax positions	57		33
Decreases related to lapsing of statute of limitations	(7)		(11)
Ending balance as of January 31,	$	157	$	92